Homeownership comes with a host of responsibilities.
Chief among them is maintaining and improving your property.
When it comes time to renovate, there are a few things to make the process as smooth as possible. Level 4 Funding private hard money lender has put together a list of expectations you should have for your home renovation.
1. Know the Different Types of Elements in a Home Renovation
Any home renovation has three main elements: cosmetic, mechanical, and structural. Cosmetic renovations are strictly aesthetic and don’t require any significant changes to the property
. Mechanical renovations are changes that improve the functionality of your home, such as installing central air conditioning or updating the plumbing. Structural renovations are changes that impact the load-bearing structure of your home, such as adding an addition or knocking out a wall.
2. Include a Home Office in your Plans
Adding a home office to your home renovation can be a great way to create a functional and stylish space. The first step is to choose the right location for your home office. Once you have found the perfect location, it’s time to plan the layout
. Decide where to put your desk, chairs, and any other furniture.
When selecting furniture for your home office, it’s essential to choose stylish and practical pieces. If you’re looking for a way to make your home office more comfortable, try this: instead of a traditional desk and chair, set up a standing desk
. This way, you’ll be able to move around more while you work, and you won’t have to worry about sitting in the same position for hours at a time.
Finally, add some personal touches to make your home office feel like your own. Hang some art on the walls, add a rug or throw pillows for extra comfort, and use fun and unique storage solutions to keep your space organized.
3. Choose the Experts to Do the Job
Not all contractors are created equal. When selecting who will work on your home
, vet them carefully by checking references and reading online reviews. Once you’ve found a few candidates you’re comfortable with, get bids from each before making a final decision.
4. Set a Working Schedule and Deadlines
Before work begins, sit down with your contractor and agree on a schedule and project
. This will help ensure that the work is completed on time and within budget.
5. Estimate the Budget and Other Costs
In addition to the cost of materials and labor, there are other costs associated with renovating your home, such as permits
, inspections, dumpster rental, and storage fees. Make sure to factor these additional costs into your budget, so there are no surprises down the road.
6 . Selecting Estimating Apps Used by Contractors
Once you’ve settled on a budget for your renovation, it’s important to select estimating apps used by contractors so that you can track spending and avoid going over budget. Understanding the estimating apps or software your contractors will use is important. This can help you to manage expectations and ensure that your project stays on track.
There might be an app designed to help electricians calculate the labor and materials needed for a job, create and send estimates, and accept online payments. Ask about their estimating software if you’re working with an electrician on a home renovation. Try this option
, which will help you understand the costs involved and keep your project on budget.
7. Insure Your Home When Your Renovation Is Complete
Be sure to update your homeowners’ insurance policy once the renovation is complete so that your newly renovated home is adequately
So, there you have it! Our top tips to help ensure a smooth home renovation. By being aware of the different types of elements in a renovation, setting up a dedicated workspace, choosing experienced experts, and estimating all costs upfront, you can avoid many of the common pitfalls that often lead to stressful renovations.
Equal Housing Opportunity. This is not a Good Faith Estimate and this is not a Guarantee to lend and should not be considered as such. Costs, rates, estimates and terms can only be determined after completion of a full application. Actual payments will vary based on your individual situation and current rates. APR for loans vary from 7.99 – 29.5% and is based on Credit Score, Down Payment, LTV, Income. Mortgage rates could change daily. To get more accurate and personalized results, please call 623 582 4444 to talk to one of our licensed mortgage experts. Terms and conditions of all loan programs are subject to change without notice. Level 4 Funding LLC, 22601 N 19th Ave Suite 112, Phoenix AZ 85027, 623-582-4444 NMLS 1018071 AZMB 0923961 This e-mail is for the exclusive use of the intended recipients, and may contain privileged and confidential information. If you are not an intended recipient, please notify the sender, delete the e-mail from your computer and do not copy or disclose it to anyone else. Your receipt of this message is not intended to waive any applicable privilege. Neither this e-mail nor any attachment’s establish a client relationship, constitute an electronic signature or provide consent to contract electronically, unless expressly so stated by Dennis Dahlberg RI/CEO, Level 4 Funding LLC, in the body of this e-mail or an attachment. To the extent this message includes any tax or legal advice this message is not intended or written by the sender to be used, and cannot be used, for legal or tax purposes or advice.
About the Author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 43 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.